AJU PRESS ASIA FIRST NEWS AGENCY

Journalist

&
""
Latest by
  • LG Innotek enters MSCI Korea, four exit
    LG Innotek enters MSCI Korea, four exit SEOUL, August 13 (AJP) —LG Innotek will enter the MSCI Korea Index at the end of this month as the country's sole addition in the global index provider's August review, setting up potential passive-fund buying as four Korean companies are pushed out. LG Innotek shares rose following the announcement, trading 3.81 percent higher at 626,000 won ($443) on Thursday morning. MSCI said LG Innotek will be added to its Korea Standard Index, while HLB, LG Display, POSCO International and Samsung Epis Holdings will be removed. The changes will take effect as of the market close on Aug. 31. The electronics components maker was already the largest constituent of the MSCI Korea Small Cap Index at the end of July, carrying a 2.43 percent weight. The MSCI Korea Index measures large- and mid-cap stocks and covers about 85 percent of the Korean equity universe, making inclusion significant for global funds that use MSCI benchmarks to allocate capital. Benchmark changes can generate mechanical demand from passive funds as they adjust their holdings to match revised index composition. Samsung Securities had estimated before the review that LG Innotek's inclusion could generate about 313 billion won of passive buying. MSCI reviews its Global Investable Market Indexes four times a year, in February, May, August and November. Its methodology incorporates company and security size, liquidity and foreign investability, with constituent weights adjusted for shares available to investors. The August reshuffle was broader across Asia. Japan recorded one addition and two deletions, India four additions and three deletions, Taiwan six additions and six deletions, and China 33 additions and 32 deletions, according to MSCI. AJP Takeaways LG Innotek is the sole Korean addition to the MSCI Korea Index in the August review, while four companies will be removed. The changes take effect after the Aug. 31 close, when passive funds tracking MSCI benchmarks are expected to rebalance. LG Innotek was already MSCI Korea Small Cap's largest constituent, and Samsung Securities had estimated its promotion could trigger about 313 billion won of passive buying. 2026-08-13 10:34:37
  • Government Strengthens Response to Workplace Harassment in Hospitals
    Government Strengthens Response to Workplace Harassment in Hospitals The government is enhancing its oversight of hospitals to reduce workplace harassment. This includes strengthening labor inspections at problematic facilities, expanding organizational culture assessments and consulting tailored for the hospital sector, and supporting the reduction of actual working hours for healthcare workers, including nurses at university hospitals. On August 13, the Ministry of Employment and Labor and the Ministry of Health and Welfare announced a partnership with the Korean Hospital Association, the Korean Nurses Association, the Labor-Management Development Foundation, and the Korea Employment and Labor Education Institute at Inha University Hospital, aimed at creating a "Safe Hospital for Workers." The government's initiative to improve working conditions in hospitals comes in response to the significant prevalence of workplace harassment in the health and welfare sector. According to a 2024 survey, the experience rate of workplace harassment in this field was 25%, the highest among all industries. Last year, the health and welfare sector accounted for 16% of workplace harassment reports submitted to the Ministry of Labor. Initially, the government will expand the "Workplace Innovation Cooperative Consulting" specifically for hospitals. Hospitals recommended by the Korean Hospital Association will be able to receive assessments and consulting without a separate review through a fast-track process. Additionally, businesses will be exempt from self-funding in the area of organizational culture improvement. During a meeting, representatives from Inha University Hospital and Samyook Busan Hospital shared their consulting experiences. Inha University Hospital recently sought consulting due to issues with new nurse turnover. Samyook Busan Hospital explained that after receiving similar consulting years ago, they restructured their nursing work system and improved their organizational culture, resulting in a significant reduction in turnover rates. A special assessment will also be conducted to identify factors that could lead to workplace harassment, such as hierarchical organizational culture, particularly among junior nurses. The government plans to expand harassment prevention training tailored to the hospital sector and develop a standard manual for improving organizational culture that can be utilized in medical settings. Support to reduce long working hours for healthcare workers will also be expanded. The government is currently supporting the reduction of actual working hours through the "Work-Life Balance +4.5 Project" targeting the life and safety sectors within healthcare. Plans are underway to extend this support to healthcare workers, including nurses at university hospitals, who are currently excluded from the existing support framework. The response system for hospitals where workplace harassment has occurred will be strengthened. The Ministry of Welfare and the Korean Nurses Association will establish a plan to link information about problematic workplaces identified on-site with the Ministry of Labor's labor inspections. The counseling and support system through the Nurses SOS support center will also be enhanced. The Ministry of Labor is currently conducting nationwide planned inspections of hospitals where workplace harassment reports have been filed. Since July 15, inspections have been underway at 14 small hospitals that received multiple harassment reports over the past three years to check for violations of labor laws, including workplace harassment. The government is also working to assess the actual conditions in hospitals. Since June, the Ministry of Labor has been conducting a survey on workplace harassment specifically in the healthcare sector. This survey aims to identify the occurrence of harassment in small and medium-sized hospitals and clinics, as well as support systems and remedies, to inform future policy improvements. Minister of Labor Kim Young-hoon stated, "It is unacceptable for the precious hands that save patients to suffer harassment at work without protection. We will create hospitals where healthcare workers can work safely through workplace innovation consulting and support for reducing actual working hours." * This article has been translated by AI. 2026-08-13 10:32:00
  • Korea revives startup contest with doubled scale after data leak
    Korea revives startup contest with doubled scale after data leak SEOUL, August 13 (AJP) - South Korea's Ministry of SMEs and Startups unveiled plans to relaunch its flagship "Startup for All" competition at twice the scale, pressing ahead with an ambitious idea-driven audition just weeks after a personal data breach forced the program's indefinite suspension. The ministry said Thursday it would recruit 10,000 participants for the second round — double the 5,000 chosen in the inaugural edition — under a plan announced jointly with related agencies at a national entrepreneurship strategy meeting. The competition invites ordinary citizens to compete on the strength of an idea alone, without the polished business plans or lengthy resumes that conventional government contests demand. Selected challengers receive early-stage mentoring, incubation and a shot at nationwide auditions. Of the 10,000 slots, 8,000 will be allocated to general and technology categories and 2,000 to a local track. At least 80 percent of those chosen must be prospective founders yet to launch a business, while 70 percent will come from outside the greater Seoul area in a bid to spread entrepreneurship across the regions. The revival comes after a bruising episode that shook public trust in the program. On June 18, the ministry disclosed that the personal information of all 5,000 first-round finalists — including names, email addresses and summaries of their startup ideas — had been exposed. An internal investigation found the data had been harvested not by an outside hacker but by an AI solutions company taking part as a support-service vendor, which allegedly used abnormal API requests and web-crawling techniques to scrape email addresses hidden from public view before sending promotional messages. Han Seong-sook, then the SMEs minister who designed the platform and has since become Korea's second female prime minister, issued a public apology on June 22, saying she had failed to protect the trust of citizens who took up the challenge of starting a business. Applications for the second round open on Aug. 20, with successful candidates to be announced in early October, the ministry said. Of the 10,000 challengers, 2,200 will advance to regional auditions and 400 to a national contest. To guard against a repeat, the ministry said it would tighten platform security and personal-data controls, submit the system to a National Intelligence Service security review and a privacy-impact assessment by the Personal Information Protection Commission, and narrow its roster of AI solution vendors to about 50 firms, down from the 283 companies that supplied solutions in the first round. The ministry also moved to knit the contest into a wider ecosystem, establishing startup "clubs" in the Seoul, Daejeon, Busan and Gwangju regions where veteran founders, investors and support agencies gather with challengers, and issuing "challenge certificates" that grant preferential treatment in state financing and research funding. "In the second Startup for All, we will open the door of challenge to more citizens and actively support re-challenge and startups across diverse fields, while building a foundation for entrepreneurs to grow together within the startup ecosystem even after their challenge," First Vice Minister Roh Yong-seok said. AJP Takeaways • South Korea's SMEs ministry is doubling its "Startup for All" contest to 10,000 participants, pressing ahead just weeks after a June data breach exposed all 5,000 first-round finalists' personal information and forced the program's indefinite suspension. • The relaunch pairs expansion with damage control: the vendor pool blamed for the leak is being cut from 283 firms to about 50, and the platform will face a National Intelligence Service security review and a privacy-impact assessment. • The breach toppled to the top of the ministry — then-minister Han Seong-sook, who designed the platform, apologized publicly before becoming Korea's second female prime minister — underscoring the political stakes riding on the program's recovery. 2026-08-13 10:31:59
  • Korean College Admissions Fair Draws Over 640,000 Visitors
    Korean College Admissions Fair Draws Over 640,000 Visitors The Korean Council for University Education (KCUE) has established the 'College Admissions Information Fair' as an essential event for students and parents preparing for college entrance exams. Since its inception in 2010, the fair has surpassed 640,000 cumulative visitors, earning recognition as the largest platform for providing fair and systematic admissions information. KCUE announced on August 13 that the '2027 College Admissions Information Fair,' held from July 23 to 25 at COEX in Seoul, concluded successfully with participation from 150 universities nationwide. This year's fair, marking its 17th edition, recorded a total of 644,600 visitors. Excluding the cancellations in 2021 and 2022 due to COVID-19, the average attendance has been about 43,000 per year. At the fair, a team of college admissions experts from KCUE provided personalized 'one-on-one college counseling' tailored to each student's academic performance and aptitude, receiving positive feedback. This year, there was a notable interest in support strategies and understanding admission thresholds in rapidly evolving fields such as flexible major selection and advanced programs. The systematic flow of students and parents who received pre-consultation moving to university booths for in-depth discussions with staff was also prominent. As the fair continues, participating universities are enhancing their strategies. Lee Sung-cheol, head of admissions at Namseoul University, stated, "While the early fairs focused on simply providing information about admissions criteria, they have now transformed into a recruiting format that secures potential candidates in a timely manner, in response to the declining school-age population." He added that detailed one-on-one counseling based on last year's admitted students' score distributions is being conducted in conjunction with the admissions information portal 'Adiga.' Jang Boo-hwan, head of admissions at Kyungil University, noted that the application and enrollment rates of students who received on-site counseling have been significantly high, contributing to tangible admission outcomes. Jeon Sang-yong, head of admissions at Jeonbuk National University, remarked, "We often see first- and second-year high school students visiting with concerns about their career paths, and we hope this will help them make informed decisions about their futures and universities." Lee Kyung-hee, secretary-general of KCUE, emphasized, "In light of the increasing proportion of admissions through rolling recruitment and changes in the admissions environment, providing fair and accurate information is more important than ever. KCUE will continue to respect the autonomy and specialization of universities while prioritizing the reduction of students' admissions burdens and serving as a reliable bridge of information between universities and students."* This article has been translated by AI. 2026-08-13 10:28:00
  • Jang Dong-hyuk Calls for Clarity on Lee Jae-myungs Allegiance
    Jang Dong-hyuk Calls for Clarity on Lee Jae-myung's Allegiance Jang Dong-hyuk, leader of the People Power Party, stated on August 13 that he hopes the Lee Jae-myung administration will clarify whether it is aligned with China or the people of South Korea.During a Supreme Council meeting held at the National Assembly, Jang remarked, "When I proposed the introduction of a nationality labeling system for online comments, the Democratic Party reacted strongly, accusing us of being 'anti-China.'"He emphasized, "This is not about targeting China specifically; it is about labeling the nationality of comments regardless of the country. If any nation, including China, attempts to manipulate public opinion and interfere in South Korean elections, we must prevent that. We will strongly push for the implementation of the online comment nationality labeling system."Jang also referenced a study conducted by KAIST and the Max Planck Institute in Germany, which analyzed over 111 million news comments and data from 4.05 million users over the past 20 years using artificial intelligence (AI).The researchers examined 24 characteristics, including the emotions expressed in comments, the regions where they were posted, non-native expressions, countries being criticized or praised, and the ratio of repetitive comments. They identified 23,998 accounts suspected of being linked to foreign activities.In this context, Jang noted, "These accounts primarily posted comments criticizing politicians and inciting social conflict. It was reported that the number of new malicious accounts increased by 51% during election periods, which is clear evidence that foreign entities are interfering in our elections through opinion manipulation."He criticized the government, stating, "While incidents involving Chinese spies continue to be uncovered, we are unable to prosecute them for espionage. The Democratic Party has delayed the processing of related bills for various reasons, and the government has stripped the National Intelligence Service of its counterintelligence authority and disbanded the military's counterintelligence command. South Korea has become a country that does not conduct espionage investigations."A proposed amendment to the criminal law, which expands the application of espionage charges from 'enemy countries' to 'foreign entities or equivalent organizations,' passed the National Assembly in February and will take effect on September 13.Meanwhile, Jeong Jeom-sik, the floor leader, pointed out that President Lee Jae-myung is openly intervening in party affairs by participating directly in the Democratic Party's convention. Jeong warned, "The policy direction of the Lee Jae-myung administration is a 'full-scale effort to erase presidential crimes.' Do not commit another crime to erase your own. Any reckless actions to cancel the trial will ultimately lead to another trial for yourself."* This article has been translated by AI. 2026-08-13 10:20:00
  • Samsung Fire & Marine Insurance Reports 10.1% Increase in First Half Net Profit
    Samsung Fire & Marine Insurance Reports 10.1% Increase in First Half Net Profit Samsung Fire & Marine Insurance reported solid results for the first half of the year, driven by a profitability-focused management strategy.The company announced on August 13 that its net profit for the first half reached 1.3739 trillion won, a 10.1% increase compared to the same period last year. The net profit attributable to shareholders of the parent company rose by 10.2% to 1.3723 trillion won.Insurance profit increased by 10.9% to 1.1145 trillion won, while investment profit grew by 22.0% to 788 billion won.In the long-term insurance sector, profit strengthened as the company focused on internal growth across products, underwriting, and channels, resulting in a 5.6% increase in insurance profit to 880.4 billion won. The insurance contract margin (CSM) multiple improved by 1.1 times to 13.9 times, and the total CSM increased by 427.1 billion won from the end of the previous year to reach 14.5947 trillion won.The retention rate for protection insurance also improved, with the 25-month and 37-month retention rates rising by 6.0 percentage points and 6.3 percentage points, respectively, compared to the same period last year.In the auto insurance sector, the company focused on improving its profitability-centered contract portfolio, achieving insurance revenue of 2.74 trillion won in the first half. Although the cost of claims increased due to rising compensation costs, effective profit management and a decrease in accident rates due to reduced driving led to a turnaround in insurance profit, which reached 29.6 billion won in the second quarter.General insurance benefited from growth in domestic and international operations, with insurance revenue increasing by 11.2% to 942.5 billion won compared to the same period last year. Enhanced management of low-profit sectors and a reduction in large claims improved the loss ratio, resulting in a 75.6% increase in insurance profit to 187.5 billion won.In the asset management sector, the company continued to invest in high-yield assets to enhance its asset holdings, resulting in stable growth in interest income. Gains from the stock market also expanded, leading to an investment return rate of 3.50% for the first half. Investment profit based on managed assets increased by 16.3% to 1.7498 trillion won compared to the same period last year.Ku Young-min, Chief Financial Officer of Samsung Fire & Marine Insurance, stated, "We are maintaining solid results based on profitability-centered management and differentiated risk management capabilities. In the second half, we will continue to strengthen our core fundamentals while enhancing corporate and shareholder value through innovations based on artificial intelligence and data."* This article has been translated by AI. 2026-08-13 10:20:00
  • Controversy Erupts Over Historical Awareness and Double Standards Ahead of Liberation Day
    Controversy Erupts Over Historical Awareness and Double Standards Ahead of Liberation Day As Liberation Day approaches, a fierce debate over 'historical awareness' and 'double standards' is sweeping through the entertainment and political sectors.On August 13, various online communities are revisiting the case of Yoon Mi-hyang, a former Democratic Party lawmaker who was convicted of embezzling funds intended to support victims of Japanese military sexual slavery, alongside allegations regarding the pro-Japanese actions of actress Ha-young's great-grandfather. The government's decision to include Yoon in the special pardon list has also come under scrutiny.The controversy surrounding Ha-young has reignited discussions about historical issues, drawing attention to the political implications. Internet users have begun to reference Yoon's case, particularly highlighting comments made by President Lee Jae-myung during his tenure as Democratic Party leader, where he actively defended Yoon on social media.At that time, President Lee stated, "Five years in prison were sought for eight charges, and after two and a half years of trial, seven were found not guilty and one resulted in a fine. How unfair must it have been for someone whose entire life was denied and who became a demon? I apologize for doubting, as I too was a victim of fake news from the prosecution."Despite the Supreme Court's final confirmation of Yoon's embezzlement conviction and a suspended sentence, public outrage erupted when the government included her in the special pardon for Liberation Day.Critics on social media have condemned the government's and ruling party's contradictory stance on anti-Japanese sentiment and historical issues. One user remarked, "Pardoning an embezzler of comfort women funds on Liberation Day is no different from pardoning Jo Du-sun on Children's Day," while another expressed frustration, saying, "While they fervently incite anti-Japanese sentiment during opposition and political crises, they now grant pardons to figures like Yoon Mi-hyang once in power, showcasing the ultimate double standard."As the controversy surrounding the descendants of pro-Japanese figures in the entertainment industry coincides with the political fallout from the comfort women embezzlement case, the debate over the sincerity and historical awareness of the ruling party is expected to continue for the foreseeable future.* This article has been translated by AI. 2026-08-13 10:20:00
  • Ruling Party Urges Opposition to Support Governments Real Estate Measures
    Ruling Party Urges Opposition to Support Government's Real Estate Measures The Democratic Party on August 13 called for comprehensive support from the National Assembly for the real estate supply measures to be announced by the Lee Jae-myung government, while urging proactive cooperation from Seoul Mayor Oh Se-hoon and the People Power Party.Acting Party Leader Han Byeong-do stated during a policy coordination meeting at the National Assembly that the government’s real estate measures are set to be announced today, adding, "The Democratic Party will hold a general meeting of lawmakers immediately after the announcement to gather a wide range of opinions from our members." Han emphasized the need to activate relevant committees, including the Land, Infrastructure and Transport Committee, the Political Affairs Committee, and the Finance and Economy Committee, to ensure the smooth progress of legislative tasks related to supply, finance, and taxation. He called on the People Power Party and Mayor Oh to join in a "grand cooperation for the stability of citizens' housing." Policy Committee Chair Han Jeong-ae also stated, "The Democratic Party will examine whether the measures for expanding supply, effectiveness, and support for youth and actual homeowners are adequately prepared," and pledged that the National Assembly would do its utmost to process related bills for prompt supply.Floor Strategy Chief Cheon Jun-ho criticized the People Power Party, saying, "While emphasizing the importance of real estate supply, they are blocking the necessary legislation," and stressed the need for an expedited plenary session. He warned, "For the government’s supply measures to work, follow-up legislation is essential. It is absurd for the People Power Party to demand an increase in supply speed while obstructing bill processing. If they continue to use people's livelihoods as a bargaining chip in political disputes, the Democratic Party will utilize all available means to respond."* This article has been translated by AI. 2026-08-13 10:16:10
  • Netflix Confirms Production of Dochabi with Cast of Kim Do-hoon, Jeon Jong-seo, and Lee Joon-gi
    Netflix Confirms Production of 'Dochabi' with Cast of Kim Do-hoon, Jeon Jong-seo, and Lee Joon-gi Netflix has confirmed the production of the action historical drama film 'Dochabi' and revealed its cast lineup, which includes Kim Do-hoon, Jeon Jong-seo, Lee Joon-gi, Lee Sang-yi, and Bae In-hyuk.'Dochabi' tells the story of a former military officer named 'Tae-san,' who lives in hiding with a Jurchen woman named 'A-hai' in a border area inhabited by firewood gatherers. The film follows Tae-san as he battles against a mysterious figure known as 'Ido-gwan,' who hunts the firewood gatherers while wearing a mask. The title 'Dochabi' is derived from a native Korean word meaning 'goblin.'The film is directed by Ahn Tae-jin, whose debut film 'The Owl' won awards at prestigious film festivals and received acclaim for its unique direction. The screenplay is written by Hwang Seong-goo, known for his deep character narratives and solid storytelling in works like 'The Crowned Clown' and 'Park Yeol.' Additionally, the production is handled by Onda Works, the company behind the box office hit 'The Crowned Clown,' adding to the film's credibility. 'Dochabi' promises to deliver fresh excitement in the action historical drama genre with its compelling characters, engaging story, and high production quality.Kim Do-hoon, known for his multidimensional roles in dramas like 'Your Honor,' 'My Perfect Secretary,' and 'Dear X,' will portray 'Tae-san.' Living in the mountains with 'A-hai,' Tae-san becomes embroiled in a mysterious conspiracy involving masked figures, leading him to be labeled as a barbarian leader. In life-and-death moments, he transforms into the 'Dochabi' who protects the people.Jeon Jong-seo takes on the role of 'A-hai,' heightening expectations for her performance. Having made a mark in intense genres with Netflix films like 'Ballerina' and 'Call,' as well as the movie 'Project Y,' she is set to showcase fresh action skills in 'Dochabi.'Lee Joon-gi will portray 'Ido-gwan,' the top commander in the border area. Known for his immersive performances in both historical and modern dramas such as 'The King's Affection,' 'Again My Life,' 'Flower of Evil,' and 'Lawless Lawyer,' Lee will embody Ido-gwan, a character driven by a deep desire for power.Lee Sang-yi, who has left a strong impact in Netflix's 'Hunting Dogs,' Tving's original 'The Legend of the Cooking Soldier,' and the drama 'The Killer's Wife,' will play 'Park Se-ryong,' an inspector investigating reports of masked figures appearing in the north. Park Se-ryong harbors suspicions about the enigmatic 'Ido-gwan,' adding tension to the narrative. Bae In-hyuk, who has solidified his presence through works like 'The Universe's Star,' 'Check-in Hanyang,' and 'The Contract Marriage of Yeolnyeo Park,' will portray 'Yeolhwa-gun,' a prince who feels responsibility and compassion for the firewood gatherers suffering due to the barbarian threat.Meanwhile, 'Dochabi' will be released on Netflix.* This article has been translated by AI. 2026-08-13 10:12:00
  • Song Young-gil Intensifies Criticism of Jung Cheong-rae
    Song Young-gil Intensifies Criticism of Jung Cheong-rae Song Young-gil, a candidate for the leadership of the Democratic Party, has ramped up his criticism of fellow candidate Jung Cheong-rae, using harsh language such as "goldfish IQ" and "quack doctor."On CBS Radio's 'Park Seong-tae's News Show' on August 13, Song accused Jung of lying about the criteria for winning the June 3 local elections, stating, "Why are you telling such obvious lies? It's not like you have a goldfish IQ."During a debate on SBS TV the previous day, Song pointed out that President Lee Jae-myung had apologized to the public for losing in areas he should have won, while Jung claimed that the party had agreed on a victory strategy. Jung later clarified that he referred to the party and government, not the party and the president.Additionally, on KBS Radio's 'Intensive Current Affairs' the day before, Song criticized Jung's assessment of the decline in President Lee's approval ratings, attributing it to the loss of core supporters. Song argued that the current drop in support is due to issues like real estate and leveraged ETFs, calling Jung's attempt to regain core support a "quack doctor prescription."Last month, Song had also remarked on Jung's comments about the ongoing conflict between the ruling party and the president, saying, "It's absurd that the ruling party leader and the president are at odds while there are still four years left in the presidential term." He controversially added that in the past, such matters would have been dealt with severely, leading to a public apology from him during the debate.* This article has been translated by AI. 2026-08-13 10:12:00